Stephens upgraded shares of Denny’s (NASDAQ:DENN) from an equal rating to a weight rating in a report published on Wednesday, Marketbeat Ratings reports. They currently have $17.00 target price on the restaurant operator’s stock, up from their prior target price of $16.50.
Several other research analysts have also weighed in on the company. BidaskClub raised Denny’s from a hold rating to a buy rating in a research report on Thursday, October 18th. ValuEngine lowered Denny’s from a buy rating to a hold rating in a research report on Wednesday, August 8th. Zacks Investment Research lowered Denny’s from a buy rating to a hold rating in a research report on Thursday, August 2nd. Finally, Wedbush dropped their price target on Denny’s from $18.50 to $17.00 and set an outperform rating on the stock in a research report on Tuesday, July 31st. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company has an average rating of Buy and an average target price of $17.33.
NASDAQ:DENN traded down $0.27 during trading hours on Wednesday, hitting $16.74. 575,659 shares of the company’s stock traded hands, compared to its average volume of 404,002. The firm has a market capitalization of $1.09 billion, a price-to-earnings ratio of 28.86 and a beta of 0.14. Denny’s has a twelve month low of $12.09 and a twelve month high of $18.16.
Denny’s (NASDAQ:DENN) last posted its quarterly earnings results on Tuesday, October 30th. The restaurant operator reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.01). The business had revenue of $158.00 million for the quarter, compared to analyst estimates of $159.28 million. Denny’s had a net margin of 7.48% and a negative return on equity of 40.31%. The firm’s quarterly revenue was up 19.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.14 earnings per share. As a group, sell-side analysts anticipate that Denny’s will post 0.68 earnings per share for the current year.
A number of hedge funds have recently modified their holdings of the business. Cadence Capital Management LLC increased its position in Denny’s by 20.1% in the 3rd quarter. Cadence Capital Management LLC now owns 189,233 shares of the restaurant operator’s stock worth $2,786,000 after purchasing an additional 31,687 shares during the last quarter. Wells Fargo & Company MN increased its position in Denny’s by 6.7% in the 3rd quarter. Wells Fargo & Company MN now owns 4,395,364 shares of the restaurant operator’s stock worth $64,699,000 after purchasing an additional 275,159 shares during the last quarter. Engineers Gate Manager LP acquired a new position in Denny’s in the 3rd quarter worth about $446,000. State Board of Administration of Florida Retirement System increased its position in Denny’s by 15.2% in the 3rd quarter. State Board of Administration of Florida Retirement System now owns 191,775 shares of the restaurant operator’s stock worth $2,823,000 after purchasing an additional 25,345 shares during the last quarter. Finally, Acadian Asset Management LLC increased its position in Denny’s by 40.9% in the 3rd quarter. Acadian Asset Management LLC now owns 402,019 shares of the restaurant operator’s stock worth $5,917,000 after purchasing an additional 116,674 shares during the last quarter. 89.74% of the stock is currently owned by institutional investors.
Denny's Corporation, through its subsidiary, Denny's, Inc, owns and operates full-service restaurant chains under the Denny's brand. As of December 27, 2017, it had 1,735 franchised, licensed, and company restaurants worldwide, including 128 restaurants in Canada, Puerto Rico, Mexico, New Zealand, Honduras, the Philippines, Costa Rica, Dominican Republic, the United Arab Emirates, Guam, Curaçao, El Salvador, Guatemala, and the United Kingdom.
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